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Want a $99 iPhone 5? Wait Until the New iPhone Announcement Next Month

iOS 7 is on its way and with it may come the promise of new iPhone hardware. But while the rest of the tech world speculates on the next-gen iPhone, we here at dealnews are excited about the iPhone 5; if Apple sticks to tradition, then this highly rated smartphone could soon hit the bargain bin, giving consumers yet another excellent choice in the heated smartphone wars. So what price can you expect to pay for current iPhone models if Apple does indeed release a new iDevice this fall?

A Sub-$99 iPhone 5 Arriving Fall 2013

At last year's iPhone 5 announcement, Apple hit the kill switch on the iPhone 3GS while simultaneously slashing the price of the iPhone 4 to $0, and the iPhone 4S to $99 (both with a new 2-year service contract). Assuming there's a new iPhone announcement this fall, we can expect the iPhone 4 to reach the end of its tech life, the iPhone 4S to be reduced to $0, and the iPhone 5 to fall to $99.

A $99 iPhone 5 would be an Editors' Choice-level deal. And even though we've already seen the iPhone 5 at this price before (back in July), it would become the new base price across the board; with all retailers offering the iPhone 5 for under $100, we expect to then see actual deals that would drop the price even further beneath the $100 mark. Considering the fact that analysts believe that the high-end smartphone boom is beginning to wane, this price-cutting trend is especially likely. As such, smartphone prices have peaked and are dropping, so we wouldn't be surprised to see a wealth of iPhone 5 deals from the likes of Fry's, Walmart, and Best Buy, all of which have undercut Apple's prices before.

Apple's Rumored Budget iPhone

For the past few years, Apple has made a habit of discounting its older iPhones. But since the start of this year, the rumor mill has been buzzing with the possibility of a budget iPhone. As Cult of Mac reports, this would open up the iPhone to a new market of potential customers. It would also coincide with the above-mentioned IDC study, which states that smartphone prices are pointing downward.

Unfortunately, if a budget iPhone is indeed introduced, Apple may not see the value in discounting previous generations of iPhones, and therefore we may not see a sub $99 iPhone 5. Such a deal all depends on whether Apple truly has a budget smartphone in the works and the kind of hardware this new phone will operate on. In the meantime however, potential iPhone shoppers should still wait until Apple's next press event before buying any iPhone. Definitely keep a sharp eye to see if another $99 iPhone deal resurfaces.

Set up an email alert now for any and all iPhone deals, to find out as soon as a reseller offers a price cut on Apple's smartphone.

With over a decade of experience covering technology, Louis Ramirez has written for CNET, Laptop, Gizmodo, and various other publications. Follow him on Twitter at @louisramirez.

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